Calgary police and the RCMP have arrested two men they said are connected with the theft of copper wire and $300,000 in damage to Calgary-area oil well sites.

Police said they apprehended the two men in Calgary on Jan. 18.

“Various pieces of unstripped copper wire and heavy equipment tools, including bolt cutters and other power tools, were found in a vehicle belonging to one of the suspects when the men were arrested in Calgary,” police said in a news release Tuesday.

The global price of copper has been growing steadily since 1971. After dipping briefly during the Great Recession of 2008-2009, the price was trading at about US$2.79 per pound on Feb. 11, according to data from COMEX.